100th Annual Report 2006-2007 - Tata Steel

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Hundredth annual report 2006-07 Cash Flow Statement for the year ended 31st March, 2007 Year Ended Year Ended 31-3-2007 31-3-2006 Rupees crores Rupees crores A. Cash Flow from Operating Activities : Net Profit before tax 6261.65 5239.96 Adjustments for : Depreciation 819.29 775.10 (Profit)/Loss on sale of Assets/Discarded Assets written off (11.19) (41.00) (Profit)/Loss on sale of current investments (15.63) (9.95) Impairment of Assets 6.22 — Amount received on cancellation of forward covers/options (82.69) (37.73) Provision for diminution in value of investments 0.10 — Reversal of Impairment Loss — (3.33) Interest income (77.35) (50.00) Income from investments (324.16) (166.08) Interest charged to Profit and Loss Account 251.25 174.51 Miscellaneous Expenditure - Employee Separation Compensation (amortised) 152.10 52.77 Provision for Wealth Tax 0.97 0.80 Amortisation of long term loan expenses 65.10 4.98 784.01 700.07 Operating Profit before Working Capital Changes 7045.66 5940.03 Adjustments for : Trade and Other Receivables (21.94) (175.94) Inventories (158.22) (302.35) Trade Payables and Other Liabilities 512.04 139.60 331.88 (338.69) Cash Generated from Operations 7377.54 5601.34 Direct Taxes paid (2034.59) (1747.11) Cash Flow before Exceptional Item 5342.95 3854.23 Employee Separation Compensation paid (224.85) (216.77) Net Cash from Operating Activities 5118.10 3637.46 B. Cash Flow from Investing Activities : Purchase of fixed assets (2007.68) (1527.58) Sale of fixed assets 17.85 44.00 Purchase of investments (18306.13) (8037.32) Purchase of investments in Subsidiaries (118.17) (277.40) Sale of investments 14623.48 7089.51 Intercorporate deposits (20.00) — Interest received 58.89 78.12 Dividend received 324.16 166.08 Net Cash used in Investing Activities (5427.60) (2464.59) 122
Cash Flow Statement for the year ended 31st March, 2007 Year Ended Year Ended 31-3-2007 31-3-2006 Rupees crores Rupees crores C. Cash Flow from Financing Activities : Issue of Equity Capital 1393.20 — Issue of Share Warrants 147.06 — Capital contributions received 5.59 — Proceeds from borrowings 8043.69 535.64 Repayment of borrowings (916.31) (758.96) Amount received on cancellation of forward covers/options 93.65 43.76 Long term loan expenses (118.88) (57.97) Interest paid (227.85) (180.21) Dividends paid (717.69) (713.46) Net Cash from/(used in) Financing Activities 7702.46 (1131.20) Net increase/(decrease) in Cash and Cash equivalents (A+B+C) 7392.96 41.67 Opening Cash and Cash equivalents 288.39 246.72 [See Schedule I, Page 139] Closing Cash and Cash equivalents (vi) 7681.35 288.39 [See Schedule I, Page 139] Notes : (i) Figures in brackets represent outflows. (ii) Proceeds from borrowing includes translation gain on foreign currency loans Rs. 224.00 crores (2005-06 : translation Gain of Rs. 15.27 crores) out of which Rs. 1.90 crores (2005-06 : Rs. 15.27 crores) has been included in purchase of Fixed Assets. (iii) Cash and cash equivalents include loss on foreign exchange revaluation of Rs. 224.09 crores (31.3.2006 : Nil). (iv) Interest paid is exclusive of, and purchase of Fixed Assets is inclusive of, interest capitalised Rs. 0.07 crore (2005-06 : Rs. 3.76 crores). (v) Investment in subsidiaries represents the portion of purchase consideration discharged in cash during the year out of the total consideration of Rs. 118.17 crores (2005-06 : Rs. 707.71 crores). (vi) Includes Rs. 7,225.94 crores (31.3.2006: Nil) ringfenced for a specific purpose. (vii) Previous year figures have been recast/restated wherever necessary. As per our report attached to the Balance Sheet For DELOITTE HASKINS & SELLS Chartered Accountants, Mumbai, 17th May, 2007 P R RAMESH Partner. J C BHAM Company Secretary For and on behalf of the Board RATAN N TATA NUSLI N WADIA S M PALIA SURESH KRISHNA ISHAAT HUSSAIN JAMSHED J IRANI SUBODH BHARGAVA B MUTHURAMAN T MUKHERJEE A N SINGH } } Chairman Directors Executive Directors 123
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A Century of Trust 100th Annual Rep
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Tata Steel is Asia’s first and In
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Redefining steel with world-class p
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in a manner that ring-fences the Co
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Board of Directors Mr. R. N. Tata C
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The state-of-the-art Hot Strip Mill
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Distribution of Revenue 2006 - 2007
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1907-2007 JRD Tata with Pandit Jawa
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1907-2007 Tata Steel’s state-of-t
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This photograph taken by a Tata Ste
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Profit Sharing Bonus was granted fo
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A modern swimming pool at the G Tow
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steeljunction in Kolkata - India’
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Tata Steel has introduced high-end
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Tata Structura is a new-age constru
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Shareholder interaction at an Annua
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Within three weeks of the announcem
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It was 1956. The company was faced
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Community and environment : Improvi
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A Critical Care Unit, in the 850-be
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The Tata Steel Family Initiatives F
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The Tata Steel works, mines, collie
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An aerial view of the planned indus
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The Cold Rolling Complex at Jamshed
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1933 Two new roughing and finishing
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From the early days, the Tata Steel
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Production Highlights • The best
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Aspire with T3 With the objective o
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Operational Highlights NSA increase
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was above the average total score o
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Blast furnaces at Corus’ integrat
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Corus produces strong, light steel
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Corus is British Triathlon’s main
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Review of Corporate Sustainability
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TSRDS focused on popularising repro
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Centenary Year The founder, Jamsetj
Page 73 and 74: esulting in a reduction in consumpt
Page 75 and 76: convertible preference shares and a
Page 77 and 78: expansion of crude steel making cap
Page 79 and 80: The bulk cargo berths are being des
Page 81 and 82: Corporate Governance Pursuant to Cl
Page 83 and 84: Annexure 'A' to Directors’ Report
Page 85 and 86: Form - B Form for disclosure of par
Page 87 and 88: 6 am 2 pm 12 noon 10 am 8 am 8 pm 6
Page 89 and 90: Particulars of technology imported
Page 91 and 92: Management Discussion and Analysis
Page 93 and 94: of 8%. In 2006, China produced 422.
Page 95 and 96: The Company plans to achieve these
Page 97 and 98: I. Strategic Rationale for acquisit
Page 99 and 100: Steelium (India’s first branded c
Page 101 and 102: The “G” Blast Furnace in Jamshe
Page 103 and 104: Sales of manganese ore in the domes
Page 105 and 106: d) Payments and Provisions to Emplo
Page 107 and 108: m) Stores and Spare Parts and Stock
Page 109 and 110: The Company generated EVA of Rs. 2,
Page 111 and 112: Business and Operational Risk The m
Page 113 and 114: • Raising cost efficient funds fo
Page 115 and 116: Highlights 2006-07 2005-06 Rupees R
Page 117 and 118: Auditors’ Report TO THE MEMBERS O
Page 119 and 120: (b) In our opinion and having regar
Page 121 and 122: (xii) In our opinion and according
Page 123: Profit and Loss Account for the yea
Page 127 and 128: Schedule forming part of the profit
Page 129 and 130: Schedule forming part of the balanc
Page 141 and 142: Schedules forming part of the balan
Page 143 and 144: SCHEDULE M : NOTES ON BALANCE SHEET
Page 163 and 164: Balance Sheet Abstract and Company'
Page 165 and 166: CAPITAL ACCOUNTS Financial Statisti
Page 167 and 168: Financial Ratios 2006-07 2005-06 20
Page 169 and 170: Name Category No. of Whether No. of
Page 171 and 172: the Tata Code of Conduct, which req
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Committees In addition to the above
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employees to report concerns about
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Market Information Market Price Dat
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Distribution of Shareholding Number
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Address for Correspondence : Tata S
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Certificate To the Members of TATA
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Statement pursuant to Section 212(8
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4. Subject to the matters referred
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Consolidated Profit and Loss Accoun
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Consolidated Cash Flow Statement fo
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Schedule forming part of the Consol
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Schedules forming part of the Conso
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SCHEDULE N : NOTES TO THE CONSOLIDA
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The Dimna reservoir near Jamshedpur
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100th Annual Report 2006-2007 - Tata Steel

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